GA Private Schools Tax Credit

Dear Donors, Family, and Friends of Bright Futures Academy,

Georgians have been given a rare opportunity—the ability to decide how to spend state tax dollars that they otherwise would pay to the government. A 2008 law allows individuals and corporations to receive a Georgia income tax credit for redirecting their state income taxes to the Apogee Scholarship Fund. Bright Futures Academy has partnered with Apogee allowing you to redirect your tax dollars to directly support our student’s education. Participation by supporters like you helped to raise $127,874 for student financial aid in 2018, and the 2018 cap was raised to $100 million, almost double the previous year’s amount. We also saw $227,875 pledged to us in 2019. This program is vital to our growth and we are requesting your participation for this upcoming tax year.

Program Overview

The Qualified Education Expense Credit program (a.k.a. Private School Tax Credit / SSO Tax Credit, etc) was passed into law in 2008 through a piece of legislation named HB 1133. In 2011, an expansion bill called HB 325 was passed into law. In 2013, a new bill called HB 283, which redefined the tax credit cap and added a $10k max for pass-through taxpayers, was passed.

Most recently, in 2018, HB 217 was passed which increased the cap from $58 to $100 million for the next 10 years.

Although several changes are apparent from one bill to the next, the bills as a whole are centered around providing tax credits to GA tax payers who wish to support educational opportunities to families seeking educational alternatives to the free Public School option.

The Georgia Legislature originally set aside approximately $50 million in tax credits annually to provide these options. Georgia tax payers can make a private donation to a State registered SSO and receive a dollar-for-dollar GA tax credit, as well a Federal charitable contribution deduction. The law also allows for tax credit donors to express their wish of which school should receive the opportunity to access the tax credit contribution monies for tuition scholarships through their chosen SSO.

These are some of the highlights of the current law:

$100,000,000 maximum allocated each year.

Credits allocated on a first-come, first-served basis.

Pass through taxpayers can redirect up to $10,000 each

Within 60 days of the pre-approval notice from the DOR, donors must make their contributions to an SSO.

Donations to an SSO only count in the same calendar year in which the donation was pre-approved and paid.

Taxpayers must add back to Georgia taxable income that part of any federal charitable contribution deduction taken on a federal return for which Georgia Qualified Education Expense Credit is allowed.

Apogee Scholarship Fund

Apogee is a 501c3 nonprofit organization with a special SSO (Student Scholarship Organization) Georgia designation, which allows Apogee to provide its contributors with not only a Federal charitable contribution, but also a dollar-for-dollar GA tax credit. Apogee began its journey in 2008 in conjunction with the passing of HB 1133 with a desire to provide unparalleled service to its partner schools and contributors in an effort to maximize the opportunities that the law has provided.

Apogee is proud to partner with a significant number of private schools throughout the state of Georgia in providing deserving students educational choice. Apogee believes that no child’s educational opportunities should ever be limited by their family’s zip code or financial situation.

As of 2017, Apogee has raised approximately $100 million through its partner schools and has awarded $65 million in scholarships to thousands ofdeserving students.